The global pandemic put the wealth management industry to the test and the stressed times revealed gaps in the operating models. It also highlighted the immense possibilities of user-driven omnichannel experience and flexible and client-focused digital collaboration models to attract new clients, including the emerging millennial market. This unique futuristic demand can be met, at least in part by digital advisors (also widely known as robo advisors), providing a variety of advisory services driven by algorithms designed to optimize various elements of wealth management as:

  • Asset allocation
  • Tax management
  • Product selection
  • Trade execution

To meet the demand of robo-advisors for fintech’s and incumbent investment banks who want to integrate robo-advisors in their existing system, Persistent has identified the high-level business components and created a composable blueprint — a Digital mosaic. This blueprint is closely aligned with the wealth management industry’s needs and provides the necessary flexibility to integrate with other external systems.Read this whitepaper to know the detailed aspects of Digital Advisory.